HAUSMANN: Why you should care about the economics of tacit knowledge. Why is it that today’s smaller and more educated urbanized families in emerging-market economies are so much less productive than their counterparts were a half-century ago in today’s rich countries? Why can’t today’s emerging markets replicate levels of productivity that were achieved in countries with worse social indicators and much older technologies? The key to this puzzle is tacit knowledge. To make stuff, you need to know how to make it...Recent research at Harvard University’s Center for International Development (CID) suggests that tacit knowledge flows through amazingly slow and narrow channels. Ricardo Hausmann in Project Syndicate.
Posted on: Fri, 01 Nov 2013 11:02:37 +0000
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